How the Loan Process Works

There can be no question that getting a mortgage loan is a complex process. You would not be researching mortgage loans if you could get a mortgage loan in a single day with a simple application. But Hill Valley Financial Services Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

There are four primary steps involved in getting a loan.

Step one: Decide how much you can afford

This is a function of a couple things. How much of a monthly payment can you afford? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: complete a pre-qualification

This is where Hill Valley Financial Services Inc. can start to save you money. You will give us details on your employment, your assets, and residence history. You'll give us information on your employment, asset, and residence history. We get your permission to pull your credit score and report. After we've reviewed your information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it can be a great tool when you make your offer! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for your new home with your REALTOR™, we find the best program for you.

Step three: apply now! We make it easy

Once you have signed the offer and the sellers accept it, it's time to apply for the loan. Applying for a loan couldn't be much easier; you can apply right here on our site. After the seller has accepted your offer and you have submitted your loan application, we'll order the professional appraisal on the home.

Step four: your loan is funded

Your real estate agent and the seller's will work together to designate an escrow/title company to take care of the funding of your loan once it has been approved. We'll coordinate with this company to make sure the papers your lender will need are avaiailable, and you will probably}likely sign everything at their officeWe coordinate with the title company on your date of closing. Since you won't need to worry about these details, you can think about the move, paint colors, new carpet, and the fun parts of moving into your new house.

You've answered some few questions, provided lots of information, applied online, and the next thing you know, you're moving in! Hill Valley Financial Services Inc. is in the business of loans; you're not — so we take care of the details. Doesn't that sound nice?

Have questions about the loan process? Call Hill Valley Financial Services Inc. at 503-657-3311. Hill Valley Financial Services Inc. answers loan process questions every day.